More house buyers pull out at the last minute

More house buyers pull out at the last minute

As many as a third of house buyers are pulling out of purchases at the very last minute after getting cold feet amid fears of a property slump. According to mortgage broker John Charcol, there has been a rise of more than 50% in the number of purchasers dropping out in the last six months alone. Jeremy Leaf, a spokesman for the Royal Institute of Chartered Surveyors (RICS) said: “Six months or a year ago, roughly 80% of deals went through, but that figure has fallen to typically 60%. People have become worried about price levels and are afraid that if they go ahead today, the property will be worth less in a few months’ time.”